Several new entrepreneurs have this question in their minds – “What is Udyam Registration?” If you have the same question, you are the perfect place.

Udyam Registration, also called MSME Registration, is a government registration for MSMEs providing them with a unique Identity Number and a recognition certificate, to certify them as (remove “a”) micro/small/medium enterprises. The primary motive behind this launch was to provide plenty of benefits to MSME businesses in India.

The types of enterprises who are eligible for Udyam Registration as per the current notification are:

Benefits of Udyam Registration

• Claim stamp duty and registration charges waiver, reducing the acquisition cost
• Get an exemption of 1% rate of interest on Overdraft
• Get a subsidy of 50% on patent fees and trademark
• Registered MSME‘s get exemptions under direct tax laws
• Concession on electricity bills
• Claim the expenses for obtaining ISO certification
• Get Government tenders easily and avail exemption
• Easy to obtain licenses, registrations, and approvals
• Interest rate Subsidy on Bank loans
• Exemption under direct tax laws

These are some of the many benefits of Udyam Registration.